5 ways to save money on your mortgage

According to the report of the Bank of Russia, in the first quarter of 2019 to 17% reduction in the number of issued housing loans for purchase of apartments in new buildings, and their monetary volume decreased by 8% compared to the corresponding period last year. The average amount granted housing loan increased from 1.98 million rubles to 2.20 million. This situation is due to the appreciation of the mortgage in January from 9.87% to the March of 10.42% and a sharp rise in prices by more than 3%. Experts "NDV-real ESTATE SUPERMARKET" told about how to save on the mortgage.

First, experts need to contact the company that sells the apartment directly from a construction company. As a rule, each residential complex such the company cooperates with several banks offering more attractive conditions to its customers. Thus you can save up to 1%

Another opportunity to reduce the mortgage rate is to apply for a housing loan to the Bank, where the client is furnished a salary card.

Experts also suggest not to ignore the various schemes of state support. For example, customers who have had a second or third child after 1 January 2018, the proposed 5% rate for the entire loan term with a down payment of 20%. Maximum period of loan repayment is 30 years.

Insurance will reduce the rate by 1% or more.

In addition, mortgage experts recommend to arrange a mortgage for a longer period. This will reduce the monthly payment, and all available funds can be directed to early repayment, reducing the term of the loan and overpayment by him. Most of the banks today do not restrict the borrowers in this matter.

Source www.bkn.ru